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Financial Uncertainty A Top Stressor, But Mental, Physical And Financial Resilience Improving, Says New HSBC Life 2022 +Factor Study

HSBC Life unveils its 2022 +FACTOR Study covering the UK, Mainland China, Hong Kong and Singapore to raise public awareness on World Mental Health Day

***Financial stressors now outweigh Covid-19 related concerns***
***People have shifted habits to bring back balance in their life, improving overall resilience***
***Mental, physical and financial resilience combined builds confidence, satisfaction and happiness***

HONG KONG SAR / SINGAPORE – Media OutReach – 11 October 2022 – A global study1 by HSBC Life – the HSBC Group’s insurance business – highlights the critical role that resilience played to shape a positive outlook and greater confidence in reaching long-term goals during a challenging year that has seen a rise in stress levels, particularly fueled by financial uncertainty.

Launched in 2021 and conducted again this year, the +Factor Study by HSBC Life had surveyed over 18,000 participants aged 18 to 80 across Mainland China, Hong Kong, Singapore and the UK. This year, the study found that people are now more worried about their financial situation (46% vs 41% last year). Saving enough for retirement, the economic impact of the pandemic and paying for medical bills caused by illness rose in importance across markets as health concerns from Covid-19 took a back seat.

Despite higher stress levels, physical, mental and financial resilience improved in 2022 as respondents paid more attention to a healthier, balanced lifestyle, social interactions and financial planning. The study found that respondents with high resilience levels in all three dimensions are likely to improve general well-being.

Greg Hingston, CEO, Global Insurance and Partnerships, HSBC Life, commented: “The interconnection between mental, financial and physical dimensions is clear. When one dimension improves, the others follow. When physical, mental and financial health are all addressed, there is a compounding effect. Together they bring confidence in achieving goals, greater happiness and satisfaction with the overall quality of life. Resilience drives well-being.”

Changing behaviours

People are responding to a post-pandemic world in various ways: using digital tools more often, getting more exercise, managing their mental well-being and planning their financial priorities.

In Mainland China, the biggest behavioural shift was physical with 50% of respondents saying they are paying more attention to hygiene and exercise; while Singapore (42%) and Hong Kong residents (45%) stated they now lead more digital lives and are embracing remote working norms. In the UK, the biggest change was in mental health (35%) with a greater focus on mental health management, more activities on relaxation such as yoga or meditation to keep calm.

With the economic uncertainties brought about by the COVID-19 pandemic, respondents across markets have more robust investment planning and budget control. They also utilise digital financial tools to manage their finance and spending.

People continued to pay attention to a healthier and balanced lifestyle with 61% agreeing that passing on healthy habits is more important than passing on wealth.

Resilience leads to a more confident and happy life

The study defines resilience as the ability to adapt, overcome and recover from mental, physical and financial stress and challenges. Higher resilience levels drive confidence in achieving goals, bring greater happiness (positivity, sense of belonging and purpose) and increased satisfaction in life. For example, 82% of individuals with high physical resilience are more confident to reach their goals versus 20% with low physical resilience. Four-fifths of people with high financial resilience said they are satisfied with their quality of life, the top determinant for happiness, compared with 22% of those with low financial resilience.

Mainland China

Respondents showed the strongest confidence, happiness and resilience levels. However, even as physical and financial health improved, mental health took a hit. Financial situation, family responsibilities, a lack of leisure time and a demanding job were cited as top barriers for those with low mental health levels. Respondents noted that a support network is a key driver for mental resilience.

Hong Kong

In Hong Kong, confidence (71 score) and happiness (68 score) levels increased over the previous year, despite posting the highest levels of stress (68 score) caused by work/employment uncertainty. People are most concerned about their financial situation (75%) with only around a third of respondents noting that their high financial resilience was a result of better financial habits, confidence in using financial products/services and having a retirement plan, a legacy plan and/or children’s education fund.

Singapore

Singaporeans stated they are more worried about being diagnosed with a critical illness (32%) and the financial burden placed on family members should they need to take care of them. Setting goals for yourself and confidence in using financial products and services are key drivers for mental and financial resilience, respectively.

UK

Being happy and staying positive (66%) were top motivators for mental resilience. When it comes to financial resilience, being able to manage finances for a rainy day or retirement (48%) is cited as the biggest motivator. In view of this and with 91% of respondents saying they would first compare financial products before making purchasing decisions and 90% saying they would first understand the product features, benefits and potential risks, it is not surprising that 80% of them are confident enough to choose the financial products that suit their needs.

Resilient individuals are problem-solvers and planners

Across the markets, there was consensus about the building blocks for resilience. Highly resilient individuals anticipate and plan, are problem solvers, stay active and have better financial habits.

Higher resilience levels are also bolstered by having protection, for example owning an insurance policy (life protection, medical/critical illness and financial planning) compared to those with lower resilience.

Greg added, “This year, the lack of short- and long-term financial security is among the biggest stressors for people. But our +Factor survey shows that good planning with clear actions, goals and shifts in behaviour build a strong foundation for overall resilience and holistic well-being. As a leading global bancassurer, we’re boosting our health, wealth and protection capabilities while promoting financial education to enhance mental, physical and financial fitness and help customers manage life’s uncertainties and achieve sustainable prosperity.”

A report of the of 2022 key global findings is available to download here.

Hashtag: #HSBC

The issuer is solely responsible for the content of this announcement.

HSBC Life

HSBC Life is the insurance business of the HSBC Group. We manufacture life and health insurance products in Hong Kong, mainland China, Singapore, India*, France, UK, Malta, Mexico and Argentina. HSBC Life offers a range of insurance products to meet the protection, education, retirement, wealth growth and legacy planning needs of our customers. Our services and products are available through HSBC banking channels, selected third-parties, including financial advisers and aggregators.

*Through our joint venture, Canara HSBC Life Insurance

HSBC Holdings plc

HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 63 countries and territories in its geographical regions: Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets of US$2,985bn at 30 June 2022, HSBC is one of the world’s largest banking and financial services organisations.

Village House Led an Exercise on Earthquake Preparedness for The First Time with Its Foreign Residents in Japan

Japan is considerably an earthquake-prone region. Thus, the Village House Vietnamese Customer Service Team in Kato City, Hyogo Prefecture, Japan, led an earthquake preparedness event for its Vietnamese residents—who are not as familiar as the native Japanese population with response protocols—to educate this growing community on how best to manage in the event of an earthquake.

KATO CITY, HYOGO PREFECTURE, JAPAN – Media OutReach – 11 October 2022 – On 11 September 2022, an earthquake preparedness event was held for the predominantly Vietnamese-national residents living in the Yashiro apartments and Yashiro Dai 2 apartments, rental units belonging to the Village House. A first of its kind, this was a collaborative effort by local authorities in Kato City, the Hyogo Bousaishi Society, and the Village House Vietnamese Customer Service Team — to prepare the residents residing in Kato-shi rental properties in the event of an earthquake.

The Importance of Earthquake Preparedness

Geographically, Japan is a region that is exposed to tectonic movements in the earth’s crust, leading the nation to be earthquake-prone. This comes in contrast to Vietnam, which does not experience tremors of a similar magnitude as Japan. Due to this fact, many Vietnamese migrants to Japan may not be aware of the existing disaster protocols in Japan, a country where being taught what to do in the case of a major earthquake is standardized education. These fundamental procedures save lives and often are not available in languages aside from Japanese or English in a nation expanding its migrant workforce.

Preparing a New Generation of Japan’s Residents

Led by the Hyogo Bousaishi Society’s special advisor, Ishizuka Toru, the earthquake preparedness event began with a lecture on the damage caused by major earthquakes like the Great Tōhoku Earthquake. It was a vital topic to kick off the event as it laid out the importance of first responses for disasters of such a scale. Mr. Ishizuka then went on to cover the necessary protocols the Vietnamese residents are to follow when an earthquake occurs.

These protocols included the evacuation routes residents could take to nearby disaster shelters (such as the nearby Fukuda Elementary School), how to live in a shelter, what to prepare in an earthquake kit, and how to collaborate with the local authorities during an earthquake or similar. To ensure that the residents would stay well-informed after disaster strikes, Village House prepared and distributed the lecture contents in Vietnamese.

First-Hand Experiences

To further drive home the importance of being prepared and ready in times of crises, the participants also experienced a simulation of the protocols. After they put on their safety helmets, a key equipment in such disasters, they were taken to Fukuda Elementary School to familiarise themselves with the evacuation route. The group were taught how to create makeshift beds out of cardboard to simulate the experience of living in a disaster shelter.

The event was then concluded with an authentic Vietnamese meal.

A Lasting Impact on the Vietnamese Community

In time to come, this earthquake preparedness event will have not only served to be a keen set of survival procedures in a time of crisis, but it will also help the Vietnamese-national residents of this Village House property — which make up 60% of the apartments’ population — to establish strong roots with the larger Japanese community.

Hashtag: #VillageHouse

About Village House

Village House provides high-quality rental properties with easy procedures at affordable prices in Japan. Starting from ¥20,000 per month, explore and discover a new life in one of our low-cost units today!

About the Hyogo Bousaishi Society

Being a country bordering the ring of fire, Japan is prone to frequent earthquakes. The Japanese Disaster Prevention Association is tasked with educating and providing relief for the residents of Japan affected by natural disasters. The Hyogo Bousaishi Society, is the Hyogo Prefecture’s chapter, serving as not only a relief organisation but also an educational one for residents living in the Kansai region.

Kotex celebrates International Day of the Girl Child with Gen Z teen girls

Invites King Maker IV contestants to share their dreams and Kotex #SHECAN spirit

Kicking off Period Education Program in new school year and encouraging 45,000 schoolgirls to navigate her girlhood journey with #SHECAN spirit

HONG KONG SAR – Media OutReach – 11 October 2022 International Day of the Girl Child (IDGC) is held on October 11 to promote the rights of girls and to empower them to fully participate in decisions that affect their lives. Kotex, a feminine care brand of Kimberly-Clark, is in line with the core value of IDGC, breaking period stigma within society and supporting unrestricted girlhood. To boost menstruation education among teenage girls, Kotex has been launching period education program in schools to promote positive perception towards menstruation. Breaking period stigma and gender stereotype within society to encourage girls to embrace their uniqueness and experience girlhood on their own terms.

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It is common for girls to feel worried during their first period. Nowadays, menstruation is still an embarrassing topic within society which undoubtedly makes teenage girls feel worried and distressed. As a feminine care market leader for 10 consecutive years, Kotex leads innovation in the industry and introduces various feminine care products to cater women’s needs on different days. Moreover, Kotex is stepping up to remove girls’ anxiety and fear from menstruation through providing sufficient female health education with promise of partnering with teenage girls along their girlhood. “Kotex supports girls throughout their girlhood journey, encouraging them to live every adventure even during their period.” said Stella Chun, General Manager of Kimberly-Clark Hong Kong. “We believe that a girlhood should not be restricted by social expectations, girls are empowered to grow up with full possibilities rather than any fixed destination, in the spirit of Kotex “Period or Not, SHE CAN”.”

Over the years, Kotex has been collaborating with schools in Hong Kong to promote menstrual health and hygiene education. The program, including professional advice by nurses, interactive videos as well as a care pack of products and educational leaflet, has reached out 550 schools in the city. Upcoming, Kotex will continue the school tour and has pledged to educate a total of 45,000 schoolgirls in new schoolyear.

Kotex invites King Maker IV contestants to share “Kotex Period or Not, SHE CAN” spirit with teenage girls

Kotex encourages girls to embrace the uniqueness of individuals. This year, Kotex kick off period education program along with the spirit of “Period or Not, SHE CAN” in Laichikok Catholic Primary School. Other than menstrual health education, Kotex has invited King Maker IV contestants, Yoyo, Alice and Sica, to share their journeys of pursuing dreams. The contestants further shared barriers they faced during King Maker IV contest and how did they overcome with the spirit of #SHECAN. At last, Kotex encouraged schoolgirls to picture their ideal life through drawing workshop, Yoyo, Alice and Sica also engaged with schoolgirls and inspired them with possibilities.

Hashtag: #Kotex

About Kotex

Kotex brand aims to ensure a period never gets in the way of any woman’s progress. Kimberly-Clark created the feminine care category with the launch of the Kotex brand 100 years ago, and today, its products are trusted by millions of women in more than 100 countries to provide outstanding protection and inspire confidence that period or not, she can.
* According to the Hong Kong Feminine Care Product Report by Nielsen from January 2010 to December 2019. Copyright © 2020 The Nielsen Company

Email :kchk@kcc.com
Facebook Page :@KotexHK
Instagram :@kotexhk

The Review Meeting of the ROC’s Second Report under the United Nations Convention against Corruption ended successfully

TAIPEI, TAIWAN – Media OutReach – 11 October 2022 – The Review Meeting of the ROC’s second report under the United Nations Convention against Corruption drew to a successful close on Sep 2. In this two-day meeting, five members of an international review committee engaged in wide-ranging and in-depth discussions on significant anti-corruption topics—including corruption prevention, criminalization and law enforcement, international cooperation, and recovery of illegal assets—and presented 104 concluding observations on important issues regarding the anti-corruption measures implemented by the Taiwanese government. These concluding observations, which were presented in a press conference held on the same day in the grand auditorium of the Ministry of Justice, were divided into 51 main findings and observations, 17 best practices, and 36 challenges to implementation and recommendations.

Review meeting for Taiwan's second anti-corruption report

Review meeting for Taiwan’s second anti-corruption report

The press conference was hosted by Lo Ping-cheng, Minister without Portfolio and Spokesperson of Executive Yuan, who received the review committee’s documents on behalf of the Taiwanese government. José Ugaz, the chairman of the committee praised the government for its anti-corruption efforts so far, saying that after the review of its first national report, the government made great accomplishments in preventing and fighting corruption. The chairman recommended that the Legislative Yuan prioritize reviewing the draft of the Whistleblower Protection Act; law enforcement authorities devote more effort to investigate international corruption crimes and prevent bribes offered from abroad; and the use of political campaign finance be stipulated according to the best international standards and donations should be open, transparent, and with limited amounts. The international review committee believed, he concluded, that with the government’s unwavering resolve to fight corruption, Taiwan would become a transparent country for the benefit of the general public and the posterity.

Hashtag: #AgencyAgainstCorruptionMOJ

The issuer is solely responsible for the content of this announcement.

The New ‘De Beers RVL’ Collection – A Code For Self-Expression

LONDON, UK – Media OutReach – 11 October 2022 – De Beers RVL is the latest collection from De Beers Jewellers, available globally from October. Bold and modern in design, the new collection invites everyone to celebrate the essence of who they are, revealing their individual character through styling and stacking the pieces as they wish. In a juxtaposition of mixed metals, four 18k white gold and diamond pieces are joined by three in black titanium and 18k rose gold.

The De Beers’ monogram inspired the collection’s aesthetic, with outlines of the ‘D’ and ‘B’ imprinted in the metal to form lines that resemble a code, and when viewed from the side, a gear. Like the De Beers initials hidden within the design, one’s unique character is not immediately evident; it must be revealed. As a mechanism that incites action, De Beers RVL emboldens the wearer to express their extraordinary self to the rest of the world through a variety of contemporary materials, distinct designs and playful styling.

The white gold pieces include a pendant in the shape of an irregular octagon, featuring rows of pavé-set diamonds, and a bracelet with a white gold barrel circumvented with diamond lines and threaded onto a black knotted cord for an urban and well-travelled vibe. A signet ring and a band complete the quartet. Smooth and solid in form, they are statements of simplicity and confidence with a hidden meaning.

A trio of black titanium and rose gold pieces – a pendant, bracelet and ring – contrast with the white gold pieces and complement the collection. The lines of this design are formed from depressions in the metal which have been lined with rose gold, visually intriguing and tactile against the brushed titanium surface. They feature a hidden diamond next to the concealed letters, its presence known only by the wearer…unless they choose to reveal it. Both iterations of the collection can be mixed and matched, offering a variety of creative options.

DB2.jpg

“The beauty of this collection is that there is no prescription about who should wear these pieces or how they should be styled; it is entirely up to the wearer,” says Céline Assimon, CEO De Beers Jewellers. “The designs feature a secret code, but they also recall striations visible in rocks, which reveal the story of the earth in which our diamonds were formed naturally. De Beers RVL serves to signify both our commitment to design jewellery that allows our clients express who they are and our heritage as pioneers of diamond perfection.”

The new De Beers RVL collection will be available in De Beers stores worldwide and debeers.com from October 2022.

Hashtag: #DeBeers #DeBeersHK #ADiamondIsForever

About De Beers Jewellers

Founded in London, with a flagship store on Old Bond Street and a presence in the most exclusive locations around the world, De Beers Jewellers is the pinnacle of luxury diamond jewellery. Building on De Beers’ 130 years of expertise, the House glorifies the world’s most beautiful diamonds through creativity and craftsmanship in bold, distinctive designs.

De Beers is invested in ensuring all the diamonds it discovers create a lasting positive impact for people and the places where they are found. This comes with a pledge to build a better future – one that is fairer, safer, cleaner and healthier, in which communities thrive, ethical practices are maintained, and the natural environment is protected. We call this long-term commitment Building Forever.

De Beers Jewellers has 31 stores globally and ships to 15 markets via debeers.com.

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Mondelēz International Appoints Hemant Rupani as President for Southeast Asia Business Unit

SINGAPORE – Media OutReach – 11 October 2022 – Mondelēz International, the maker of iconic brands including Cadbury Dairy Milk, Oreo, Ritz and Toblerone today announced the appointment of Hemant Rupani as President for its Southeast Asia (SEA) Business Unit. Previously the Managing Director of Mondelez Kinh Do Vietnam, Hemant replaces Glenn Caton who has moved to another position in the company’s global operations.

Hemant Rupani, President for SEA Business Unit, Mondelēz International

Hemant Rupani, President for SEA Business Unit, Mondelēz International

In his new role, Hemant will be responsible for the SEA cluster of markets including the Exports business in the broader Asia Pacific, Middle East and Africa (AMEA) region, leading growth and end-to-end business.

Speaking about his appointment, Hemant said, “The SEA business has been on an accelerated growth path driven by increasing consumption, digital penetration, talented population, and cultural diversity in the region.

“We have built a reign as category leaders across segments with our portfolio of iconic global brands and local jewels. Combining our solid team, local-first strategy, and robust investments, we are in a strong position to lead the future of snacking and drive sustainable growth forward.”

Mondelēz International commands a long-standing heritage in SEA. The region also houses ten manufacturing facilities and two technical centres that support its world-class supply chain capabilities and product innovation.

Early this year, Mondelēz International invested US$23 million to expand its OREO production line in Cikarang, Indonesia, which also uses the latest technologies in reducing energy, water and carbon emissions. The company has also integrated solar panel rooftops on two of its manufacturing plants in Malaysia, including the Cadbury chocolate production factory which has a 48-year-old heritage locally.

Hemant’s appointment comes at a critical time as Southeast Asian consumers are rapidly evolving amidst the economic recovery. He added, “Over the years, we have learned to adapt in making the business more agile, resilient, and competitive. Digitalization will play an increasing role to help us speed up innovation, strengthen proximity to consumers, and spearhead progress towards creating snacks the right way for both people and the planet to love.”

Hemant is an accomplished leader with over 20 years of experience working in India, US and Vietnam covering various industries including food and beverage (F&B), telecommunications, and consulting. Throughout his career journey, Hemant has enabled multiple business turnarounds, driven operational excellence, and built high-impact teams. Prior to joining Mondelēz International in 2016, he worked with several leading organisations including PepsiCo, Vodafone, Britannia, and Infosys Technologies.

Hashtag: #MondelēzInternational

About Mondelēz International (SEA)

Mondelēz International (SEA) is part of the Mondelēz International group of companies which empowers people to snack right in over 150 countries around the world, with a strong presence in Southeast Asia. With 2021 net revenues of approximately USD29 billion, Mondelēz International is a member of the Standard and Poor’s 500, Nasdaq 100 and Dow Jones Sustainability Index.

Mondelēz International is leading the future of snacking with iconic global and local brands such as Cadbury Dairy Milk chocolate, Cadbury Zip chocolate wafer, Cadbury 5 Star chocolate, Toblerone chocolate, OREO cookies, Chipsmore cookies, Jacob’s biscuits, Tiger biscuits, Philadelphia cheese, Kraft-Dairylea cheese, Chachos chips, Chipster chips, Twisties snacks and many more. We have been part of SEA for more than 70 years, with operations in Malaysia, Indonesia, the Philippines, Singapore, Thailand, and Vietnam. Our 7,000+ colleagues work across our ten manufacturing locations, two research and development technical centers and our sales and marketing network to create products that people can truly love and feel good about. From wholesome treats to indulgent bites, consumers can enjoy the right snack, for the right moment, made the right way.

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Nexusguard Research Shows Total Number of DDoS Attacks Increased during First Half of 2022 While Maximum Attack Size Decreased Compared to Second Half of 2021

Nexusguard DDoS Statistical Report Reveals Key Attack Observations and Analysis from the First Half of 2022

SINGAPORE – Media OutReach – 11 October 2022 – In the first half of 2022, the amount of DDoS (distributed denial of service) attacks increased by 75.6% compared to the second half of 2021, according to new Nexusguard research revealed in the company’s DDoS Statistical Report for 1HY 2022. While the total number of attacks did grow, the average (0.59 Gbps) and maximum (232.0 Gbps) attack sizes each decreased by 56% and 66.8%, respectively, during the same period. Notably, application attacks increased a whopping 330% over the second half of 2021 and amplification attacks increased by 106.7%.

Single-vector attacks represented 85% of all attacks globally in H1 2022. UDP (User Datagram Protocol) attacks, which quickly overwhelm the target defenses, and HTTPS Flood, which exhaust servers with valid HTTPS requests, were the two most predominant vectors. Nearly four out of 10 (39.6%) attacks were UDP, an increase of 77.5% from H2 2021, and the two groups combined accounted for more than half (55.5%) of DDoS attacks globally. UDP attacks frequently serve as a smokescreen to mask other malicious activities such as efforts to compromise personal identifiable information (PII) or the execution of malware or remote codes.

New to Nexusguard DDoS reports are statistics describing top reflected attack destinations. Reflection attacks spoof the IP address of the target, tricking it to believe it has received an authentic request, typically via UDP, to which the target responds. Nearly three-quarters (74.6%) of all reflected attacks targeted organizations in Brazil and South Korea. Within Europe, the United Kingdom received almost a quarter (24.6%) of all reflected attacks in that region while in the Middle East and Africa the Seychelles and Saudi Arabia combined, received more than half (55.5%).

Stealthy Bit-and-Piece attacks continue to plague ASN-level Communications Service Providers (CSPs) globally, especially internet service providers (ISPs). Stealthy Bit-and-Piece attacks continue to plague ASN-level Communications Service Providers (CSPs) globally, especially Internet service providers (ISPs). While 81% of attacks globally were less than a single Gbps, Bit-and-Piece attacks by /24 networks registered minimum sizes of 0.0637 Gbps and a maximum of 123.72 Gbps. By drip-feeding doses of junk traffic into a large IP pool, the traffic remains small enough to evade traditional threshold-based detection, but accumulates to be enough to clog and disable the target.

“Attackers came out of winter hibernation with never-before-seen levels of intent, showing an incredible increase of attacks in Q2 2022 alone and by June, reaching the highest first-half levels since 2018,” said Juniman Kasman, chief technology officer of Nexusguard. “We’ve expanded our DDoS reports to include data on reflected attack destinations and have separated Europe from the Middle East and Africa regions to provide organizations with even more information on DDoS attacks. The wide variability in attack types shown by our latest report demonstrates that companies must remain vigilant in protecting themselves against the risk of DDoS attacks.”

Read Nexusguard’s DDoS Statistical Report 1HY 2022 for more information on attack vectors, stats and trends based on data gathered from CSPs, honeypots, botnet scanning and research on traffic moving between attackers and their targets.

Hashtag: #Nexusguard

About Nexusguard

Founded in 2008, Nexusguard is a leading cloud-based distributed denial of service (DDoS) security solution provider fighting malicious internet attacks. Nexusguard ensures uninterrupted internet service, visibility, optimization and performance. Nexusguard is focused on developing and providing the best cybersecurity solution for every client across a range of industries with specific business and technical requirements. Nexusguard also enables communications service providers to deliver DDoS protection solution as a service. Nexusguard delivers on its promise to provide you with peace of mind by countering threats and ensuring maximum uptime. Visit for more information.

Tech Mahindra and SoftTech Join Forces to Digitally Transform the Global Construction and Infrastructure Industry To provide customized solutions for end-to-end transformation of the global construction and infrastructure industry

LONDON/NEW DELHI – News Direct – 11 October 2022 – Tech Mahindra, a leading provider of digital transformation, consulting, and business re-engineering services and solutions, today announced a strategic partnership with SoftTech, a provider of advanced digital solutions for the construction and civil infrastructure industry, to digitally transform the global construction and infrastructure industry. The partnership will combine the technological capabilities of Tech Mahindra and the domain expertise of SoftTech to provide customized solutions for end-to-end digital transformation of business in the construction and infrastructure industry.

The partnership will enable customers across the government and corporate sectors to streamline business operations, boost efficiency, and improve customer experience by leveraging leading-edge technologies like AI (Artificial Intelligence), ML (Machine Learning), BIM (Building Information Modelling), Digital Twins, Augmented Reality (AR), Virtual Reality (VR), Mixed Reality (MR), Construction Wearables, Robotics, Metaverse, and Internet of Things (IoT).

Jagdish Mitra, Chief Strategy Officer and Head of Growth, Tech Mahindra, said, “The construction industry contributes 13% to the global GDP, and is required to continuously re-invent and innovate to become more efficient and address cost burdens. The industry has taken valuable strides in digitization, and the many examples of successes have increased the demand for next-gen technologies. Tech Mahindra and SoftTech aim to build more sustainable and responsible solutions for social and environmental impacts within AEC (Architecture-Engineering-Construction) space. An innovative online inspection-approval system, ERP solution for the real estate and construction industries, an online building information model, etc. are among the strengths of our partnership”.

The partnership will further strengthen Tech Mahindra’s market position in the construction industry and empower organizations with seamless implementation and integration of digital solutions across departments, functions, and the workforce at the desk and on the field. Tech Mahindra and SoftTech will also work towards cross-skilling their resources through training programs for knowledge sharing on various tool implementations, scaling applications, etc., thereby creating a skilled talent pool for innovative and scalable solutions.

Vijay Gupta, Founder, Chairman and Managing Director at SoftTech, said, “We believe that the construction industry is at the cusp of undergoing a complete digital transformation, and our partnership with Tech Mahindra creates a great platform to cater to the needs of the industry. With Tech Mahindra’s industry-leading expertise in the manufacturing segment, the company has succeeded to scale the business upwards to cross a billion-dollar run-rate. We are confident that this, combined with their deep-tech capabilities in 5G and Metaverse, will provide our products scalability in terms of customer base and technical know-how, which will help deliver more value to international construction and infrastructure clients.”

Tech Mahindra believes in DigitALL philosophy for comprehensive Business Transformation. This partnership is in line with Tech Mahindra’s focus on digital growth, under the NXT.NOW™ framework, which aims to enhance ‘Human Centric Experience’, Tech Mahindra focuses on investing in emerging technologies and solutions that enable digital transformation and meet the evolving needs of the customer.

Hashtag: #SoftTech

About SoftTech

SoftTech offers innovative products and services to help drive digital solutions in the infrastructure and construction industry. Founded in 1996, SoftTech, a publicly listed entity in NSE and BSE, is equipped with 25+ years of industry expertise. SoftTech has empowered digital transformation in the construction and infrastructure industry through innovative software products. Leveraging the power of Artificial Intelligence (AI) with robust frameworks. SoftTech’s solutions are designed to drive higher productivity, increased efficiency, and substantial cost savings and help clients achieve their sustainability goals. SoftTech is powered by over 500 professionals including technologists, AEC specialists, and subject matter experts who drive our innovations and deliver value to customers. With a presence across India, US, UK, Singapore, and MENA, SoftTech has deeply engaged with clients to help them sustain and enhance their competitive edge by fundamentally transforming the status quo. More than 600 organizations and over 100,000 users are supported by SoftTech. More than 1 million building permits have been approved through SoftTech solutions covering more than 1 billion+ sq ft area. With ‘CIVIT’ as a platform, SoftTech has combined decades of deep domain understanding and solutioning to offer a suite of products that cater to the complete construction project life-cycle – starting from plan to permit to build and then operate.

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About Tech Mahindra

Tech Mahindra offers innovative and customer-centric digital experiences, enabling enterprises, associates, and the society to Rise. We are a USD 6 billion organization with 158,000+ professionals across 90 countries helping 1262 global customers, including Fortune 500 companies. We are focused on leveraging next-generation technologies including 5G, Blockchain, Quantum Computing, Cybersecurity, Artificial Intelligence, and more, to enable end-to-end digital transformation for global customers. Tech Mahindra is the only Indian company in the world to receive the HRH The Prince of Wales’ Terra Carta Seal for its commitment to creating a sustainable future. We are the fastest growing brand in ‘brand strength’ and amongst the top 7 IT brands globally. With the NXT.NOW™ framework, Tech Mahindra aims to enhance ‘Human Centric Experience’ for our ecosystem and drive collaborative disruption with synergies arising from a robust portfolio of companies. Tech Mahindra aims at delivering tomorrow’s experiences today and believes that the ‘Future is Now’.

We are part of the Mahindra Group, founded in 1945, one of the largest and most admired multinational federation of companies with 260,000 employees in over 100 countries. It enjoys a leadership position in farm equipment, utility vehicles, information technology and financial services in India and is the world’s largest tractor company by volume. It has a strong presence in renewable energy, agriculture, logistics, hospitality, and real estate. The Mahindra Group has a clear focus on leading ESG globally, enabling rural prosperity and enhancing urban living, with a goal to drive positive change in the lives of communities and stakeholders to enable them to Rise.

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